METRO MINING LIMITED — Earnings Release 2023

Feb 28, 2024

Metro Mining Limited and Controlled Entities

ABN 45 117 763 443

Appendix 4E

Results for announcement to the market

(all comparisons to 12 months ended 31 December 2022)

Results for announcement to the market(all comparisons to 12 months ended 31 December 2022)
Revenue from ordinary activitiesLoss for the year from continuing operationsUnderlying loss before tax from ordinary activities(i)Underlying EBITDA from ordinary activities(i)	$’000s	Movement	Movement%
	235,840(13,482)(6,470)18,564	IncreasedDecreasedDecreasedIncreased	32.57(73.10)(87.00)174.78

(i) The financial results of Metro Mining Limited are reported under International Financial Reporting Standards (IFRS). These results include certain non-IFRS measures including Underlying Profit / (Loss) before Tax from Ordinary Activities and Underlying EBITDA from Ordinary Activities. These measures are consistent with measures used internally and are presented to enable understanding of the underlying performance of the Company. Non-IFRS measures have not been subject to audit or review. A reconciliation to Profit / (Loss) before Tax from Continuing Operations is included below.

Dividend information

No dividends were declared or paid during the financial year.

Net tangible assets per security

Net tangible assets per security
Net tangible assets per security	31 Dec 2023	31 Dec 2022
	$0.002	$0.004

Reconciliation of profit before tax from continuing operations to underlying EBITDA from ordinary activities

Profit / (loss) before tax from continuing operationsForeign exchange lossAmortisation of deferred borrowing costsLoss on loan modificationUnderlying profit / (loss) before taxNet finance costs (excluding leasing expense)Impairment LossDepreciation and amortisationUnderlying EBITDA from ordinary activities	Profit / (loss) before tax from continuing operationsForeign exchange lossAmortisation of deferred borrowing costsLoss on loan modificationUnderlying profit / (loss) before taxNet finance costs (excluding leasing expense)Impairment LossDepreciation and amortisationUnderlying EBITDA from ordinary activities	Profit / (loss) before tax from continuing operationsForeign exchange lossAmortisation of deferred borrowing costsLoss on loan modificationUnderlying profit / (loss) before taxNet finance costs (excluding leasing expense)Impairment LossDepreciation and amortisationUnderlying EBITDA from ordinary activities	12 Months	12 Months
			31 Dec 2023	31 Dec 2022
			$’000s	$’000s
			(13,482)	(50,122)
	change loss		6,439	214
	n of deferred borrowing c	osts	-	124
	n modification		572	124
	profit / (loss) before tax		(6,470)	(49,784)
			8,321-16,714	10,869-14,091
			**18,564 **	(24,824)

This information should be read in conjunction with the 31 December 2023 Annual Report.

Additional information supporting the Appendix 4E disclosure requirements can be found in the Directors’ Report and the consolidated financial statements for the year ended 31 December 2023.

This report is based on the consolidated financial statements for the year ended 31 December 2023 which have been audited by Ernst & Young.

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